Power of Data Analysis

0

We live in a dynamic world that is ever evolving with new technologies and innovations every day.  The internet is playing a significant role with research showing that by 2020, the number of internet connected things will get to 50 billion. Organizations are therefore faced with more rapid changes and increased customer expectations than any other time in history and are therefore compelled to adapt to the ever-disruptive mix of technical business and customer service challenges including ageing infrastructure, keeping up with consumer demands and protecting their revenue base. We live in a time where you have to innovate or get extinct, create or die.  Many companies have been overtaken by technologies and only those that have been innovative and flexible enough survived.

Organizations need to integrate data analysis to address these concerns. Data analysis ensures a reliable, accessible and useful information on the mechanics of current policies and technologies as well as the costs and consequences of possible alternatives. With the world existing in tech-survey era, organizations can access lots of data from multiple sources and factor them in their decision and evaluate how the result from their analysis will impact their operations in terms of how they conduct their transactions, processes, employee efficiency, customer habits, public relation, as well as marketing.

Key consideration that organisation should make their quest to harnessing the power of data analysis is determining the best metrics to track data, identifying the best tool to collect their data of interest, knowing how to clean their data, identifying the best system to analyze the data and how to incorporate the result of their analysis into their day to day operation to ensure that they pace up with the trend and innovate when necessary. This will ensure that strategic measures are placed and the organization is making strides to innovate and reinvent in our complex environment.

Indepth Research Services (IRES) does both consultancy  and training services in area of data analysis. IRES has over the years been engaged in consultancy services for both local and international organizations and in the process created innovative ideas that are factored in the operations of these institutions. The training courses offered by  IRES ILDC has also ensured that many individuals and organizations from different parts of the world are trained with data analysis skills. If you want to learn more about these courses and where they are scheduled in different parts of the world visit their website and register for these courses to ensure that you and your organization then benefit in this important tool of survival.

By: Vincent Lang’at

Investment Analyst – IRES Kenya.

About Author

Leave A Reply